Connect with us

Blockchain News

Why News of the iGaming Industry Embracing Blockchain is Good

Eseandre Mordi



iGaming Blockchain

In a world that is skeptical of the ability of Blockchain to function as a tool that can provide a proper service, it is refreshing to see that there are those who understand the value of the technology. Although, mostly the technology is seeing more and more application in terms of the iGaming industry, or at least is seeing a more widely accepted application of the technology within the industry. Many are seeing this as a disappointing development for what Blockchain, as they believe that the technology would be much more applicable in terms of other contexts. Such as voting, currencies and a number of other, much more “higher purpose” applications”. And yet, there are more than a few reasons to be excited about how the technology is developing and what it is developing into. A whole bunch of Aussie live casinos are embracing the technology, and the move is proving to be positive for crypto in general.

Pushing tech

One thing many people seem to miss out on when talking about how casinos are the ones adopting blockchain and cryptocurrencies on a much more massive scale is the fact that these companies end up pushing the technology further ahead. The push that is happening is not just arbitrary either, it is not specifically related to a very small aspect of the technology. The truth is, applying RNG algorithms into the blockchain system is a complex process that requires faster block mining, more efficient storage and, most importantly, a much more secure cryptological sealing for the results. While blockchain does not lack the ability to seal, the speed for this process is quite lacking and may take longer than a game is able to spare. The fact that the iGaming industry is picking up this technology and improving upon the already existing conventions helps the technology become more efficient and faster. This means that the companies working with blockchain tech at the moment are actually helping the overall technology and every single miner that will mine faster in a decade, will be able to thank some very specific iGaming companies that picked up the tech.

Increasing value

This is where the financial investors into blockchain and cryptocurrencies specifically will see the true value. iGaming companies picking up blockchain and cryptocurrencies increases demand on said currencies, while also increasing the flow of them through the economy The more crypto a company accepts payment, the more people buy it and the more the company is able to sell back on the markets. The constant flow of currencies through the markets enables the currencies to become so much more stable. And while stability might not be the best friend of a speculator, it is definitely the best friend of an investor that wants to be able to trust cryptocurrencies to remain valuable throughout the years that he or she owns them.

The normalization of cryptos that comes as a result of companies accepting payments in them is another tool in increasing the valuation of the company, With enough time, people will get used to using cryptos on a day to day basis, which will normalize them and bring them into the fold of everyday lives of the general population easier.




Continue Reading



Pin It on Pinterest

Share This